1,660 $200,000 Balance sheet and income statement data indicate the following Bonds payable, 11% (due in 15 years) Preferred 8% stock, $100 par (no change during the year) Common stock, $50 par (no change during the year) Income before income tax for year Income tax for year Common dividends paid Preferred dividends paid $1,000,000 $350,623 $105,187 $60,000 $16,000 Based on the data presented above, what is the times interest earned ratio (round to two decimal places)? a. 3.59 b. 1.81 c. 0.81 d. 2.59